SoftBank to merge with Fortress

Japanese group SoftBank Group Corp. and US firm Fortress Investment Group LLC (FIG) announced that they have entered into a definitive merger agreement under which SoftBank will acquire Fortress for approximately USD 3.3 billion in cash. “Fortress‘s excellent track record speaks for itself, and we look forward to benefitting from its leadership, broad-based expertise and world-class investment platform,” said Masayoshi Son, Chairman and CEO of SoftBank. Fortress will operate within SoftBank as an independent business headquartered in New York.